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The Peoples Democratic Party (PDP) says its Presidential candidate, Atiku Abubakar, has worked out a pricing template that will immediately crash the pump price of fuel in the country, since the President Muhammadu Buhari-led All Progressives Congress (APC) administration, in its insensitivity, has failed to do the needful in the last three years.
This is just as the PDP completely rejects the Buhari-led Federal Government’s increase of the official prices of diesel and kerosine, stating that such will bring more economic pressure on the already impoverished nation, as most businesses and homes across the country heavily dependent on these products for sustenance.
The party in a statement signed by its National Publicity Secretary, Kola Ologbondiyan, said that it has been in high level talks with top international players in the oil and gas industry, adding that its engagements have shown that the appropriate pump price of fuel in the Nigerian market, under the current subsidy regimes of the Buhari Presidency, should be within the borders of N87 to N90 per litre as against the N145 currently being charged.
The PDP said with the current price template of crude oil in the international market, the Buhari administration has no justification to keep the pump price of fuel at N145 per litre and watch Nigerians groan under the weight of high prices, while a cabal at the presidency loots the funds meant to subsidize the product.
The party notes that for every N145 paid for a litre of fuel, the Presidency cabal diverts a hidden N58 which Nigerians have continued to pay since the fuel price was increased from N87 to presumably subsidized cost of N145.
Apart from failing to account for the over N1.4 trillion allegedly syphoned through sleazy oil subsidy deals, the Buhari-led Federal Government is burdened to account for the over N3.49 trillion stolen under the hidden N58 per litre of fuel on over 50 million daily domestic consumption estimated in the last three years.
The PDP notes that had the Buhari administration heed wise counsel to be transparent in its dealings in governance and to engage more experienced hands on petroleum issues, the nation would not have been in the dire straits we face today.
The party, however, urges Nigerians not to despair as its Presidential candidate, Atiku Abubakar, has already worked out a blueprint that will end sleazes, ensure appropriate pricing template and free resources to guarantee the availability of product on a national pricing regime.